After Khashoggi-Murder | How Saudis try to keep business partners

Riyadh – The Saudis are facing political, but also economic pressure – and with them, indirectly, so too is the German former head of Siemens, Klaus Kleinfeld.
Due to the Khashoggi murder, numerous companies cancelled their participation in the Future Investment Initiative conference in Riyadh (“FII”, 23-25 October). The conference is extremely important for the sheikhs. The cancellations are bad for the Saudis’ finances and for their image.

BILD has learned from reliable sources that the Saudis are now trying to attract companies and their CEOs to the FII conference. The lure is bigger contracts – including contracts that would normally be put out to regular public bids.
The Saudis depend on investments, but also on the know-how of foreign companies, because the controversial crown prince Mohammad bin Salman (MBS) wants to build an over-the-top future city in the desert.

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Siemens participates in FII

In “Neom”, 500 billion (!) euros are scheduled to be spent for building the city on 27 000 square metres. Initially, the project manager was former head of Siemens, Kleinfeld, who is now in charge of the entire “Neom” project. He is also an economic advisor of crown price MBS.
Kleinfeld is co-responsible for organizing the FII forum. Following the suspected torture and murder of Jamal Khashoggi in the Saudi Istanbul consulate, many CEOs have withdrawn their participation – including the CEOs of Deutsche Bank and Uber.
The head of Siemens, Joe Kaeser, still wants to participate in the FII forum. Did the German industrial giant also receive offers outside of regular public bids? A Siemens spokesperson told BILD: „We know nothing of this.”
The Saudi Future Investment Initiative did not respond to BILD’s inquiry.